Bangkok Airways Public Company Limited (SET: BA) has announced its 2Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;
| Quarter | 2Q24 | 2Q23 |
| Net Profit (Loss)
Million Baht |
712.22 | 669.71 |
| Earning Per Share
(Baht) |
0.3400 | 0.3200 |
| % Change | 6.35 | |
| 6 Months | 2024 | 2023 |
| Net Profit (Loss)
Million Baht |
2,585.42 | 1,544.81 |
| Earning Per Share (Baht) | 1.2300 | 0.7400 |
| % Change | 67.36 | |
BA reported a net profit in 2Q24 of 712 million baht, an increase of 6% from 669 million baht in 2023.
The total revenue for the second quarter of 2024 was 5,796.3 million baht, or 16.8% growth, driven by an average fare of 4,000.4 Baht per sector or 13.3% rising from 2023, along with the incremental serviced flights from airport-related business.
For the six-month period of 2024, the company reported net profit at 2,591.6 million baht, an increase from last year’s 1,045.3 million baht or 67.7%. The profit attributable to the equity holders of the company was 2,585.4 million baht, and the profit per share for the period was 1.23 baht.
Total revenues for the six-month period of this year were 13,624.5 million baht, which grew by 27.3% or 2,919.6 million baht compared to the year 2023. An incremental revenue was mainly from airline and airport-related business, arising from a higher number of serviced flights and passengers.
BA served with 8% growth in seat capacity to 2.7 million seats and 11.4% growth in passenger volume to reach 2.3 million passengers. The overall load factor was 83.3%, and grew by 2 percentage points from 2023. The company reported an operating profit of 3,367.3 million baht, an improvement of 66.5%, largely from an incremental revenue from airline and airport-related business.
The company carried 0.95 million passengers, rising by 4.4% from 2023. Meanwhile, there was a slight growth of 0.1% for seat capacity due to redelivery of aircraft in April and flight frequency adjustment to match with travel demand during low season. Consequently, the average load factor was at 77.3%, which increased by 2.1 percentage points compared to 2023. Most passengers in the period contributed from website and direct connect Point-of-Sales which accounted for 51%, followed by Thailand and Europe Point-of-Sales which represented 18% and 14% of total passengers respectively.
The tourism in Thailand in 1H24 has a significant growth compared to 2023 with a cumulative number of foreign tourists totaling 17,501,283 visitors, or a growth of 35%. Moreover, it could be observed that Chinese, which has the biggest portion for the International Visitor Arrivals, increased significantly at 138% compared to 2023. (Source: Ministry of Tourism and Sport).
